Binance to Launch RDNT1-20 Times U-Standard Perpetual Contract on April 5th, 2023

On April 4th, according to official news, Binance will launch the RDNT1-20 times U-standard perpetual contract at 20:00 on April 5th, 2023.

Binance will launch RDNT1-20 times U-standard perpetual contract

Introduction

Binance, the world’s largest cryptocurrency exchange, is all set to launch the RDNT1-20 times U-standard perpetual contract on April 5th, 2023, as per official sources. This move will expand Binance’s range of products and provide users with more opportunities to make profits.

What is RDNT1-20 times U-Standard Perpetual Contract?

The RDNT1-20 times U-standard perpetual contract is a financial derivatives product based on the digital asset, RDN. The contract allows investors to make profits by predicting the price changes of RDN, without having to hold the underlying asset. The RDNT1-20 times U- standard perpetual contract allows traders to invest in RDN with a leverage of up to 20 times.

Benefits of RDNT1-20 times U-Standard Perpetual Contract

– High Leverage: With a leverage of up to 20 times, traders can open positions with a fraction of the capital required to purchase the actual RDN tokens. This allows traders to maximize profits and minimize risks.
– Continuous Trading: Unlike traditional markets that close at certain times, perpetual contracts can be traded continuously 24 hours a day, seven days a week.
– Hedging: Traders can use perpetual contracts to hedge their positions, i.e., protect against the downside risks of holding RDN.

How to Trade RDNT1-20 times U-Standard Perpetual Contract

To trade RDNT1-20 times U-Standard Perpetual Contract on Binance, traders need to first open a Binance account and complete the KYC verification process. Once they have verified their identity, they can deposit funds into their account and start trading.
To open a position in RDNT1-20 times U-Standard Perpetual Contract, traders need to select the contract from the trading pairs on the Binance derivatives platform, choose the leverage they want to use, and enter the amount they want to invest.

Conclusion

The launch of RDNT1-20 times U-Standard Perpetual Contract on Binance is a significant development for the cryptocurrency derivatives market. With high leverage, continuous trading, and hedging opportunities, the contract provides traders with more options to profit from the price movements of RDN.

FAQs

Q1: What is RDN?

A1: RDN is the digital asset on which the RDNT1-20 times U-Standard Perpetual Contract is based.

Q2: What is leverage?

A2: Leverage is the amount by which a trader can amplify their gains or losses in a trade.

Q3: What is KYC verification?

A3: KYC (Know Your Customer) is a process by which businesses verify the identity of their clients to prevent fraud or other illegal activities.